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Question
click and drag on elements in order arrange the phases of the business cycle in order, with the phase characterized by an increase in gdp last. instructions contraction trough peak expansion
Brief Explanations
The business cycle phases in order (with Expansion, which has increasing GDP, last) are: Peak (highest point before contraction), Contraction (economic decline), Trough (lowest point before recovery), Expansion (economic growth with increasing GDP).
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- Peak
- Contraction
- Trough
- Expansion